Business Opportunity and Idea Evaluation
CMAT 2022 · Innovation & Entrepreneurship · Easy · Entrepreneurship
Given below are two statements: Statement I: Ideas should not be examined for their reallife use and application. Statement II: Business opportunity can be described as an economic idea that can be implemented to create business enterprises and earn profits.
In light of the above statements, choose the correct answer from the options given below:
- A.
Both Statement I and Statement II are true
- B.
Both Statement I and Statement II are false
- C.
Statement I is true but Statement II is false
- D.
Statement I is false but Statement II is true
D
Explanation
Statement I is false because ideas MUST be thoroughly tested and examined for real-life feasibility and practical utility before committing capital. Statement II is true as it accurately defines a business opportunity.
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